GM will not have a priority right in the privatization of UzAuto Motors - Davaktiv
The State Assets Management Agency, emphasizing that the privatization of UzAuto Motors will be carried out in an open and competitive manner, announced that the American company General Motors will not be granted any privileges or priority rights to purchase the asset.
GM will not have a preemptive right in the privatization of UzAuto Motors — State Assets Management Agency
The privatization of UzAuto Motors will be conducted on the basis of open and competitive principles. In this process, no individual companies, including the American company General Motors, will be granted privileges or preemptive rights to purchase the asset.
According to the State Assets Management Agency (Davaktiv), any investor who meets the requirements of national legislation can participate in the privatization. It is planned to sell the asset through international bidding, ensuring the openness and transparency of the process.
Preparations for the sale of UzAuto Motors have already begun within the framework of the previously approved privatization program. Davaktiv has engaged international consultants who are currently conducting a due diligence review of the company and gathering the necessary documents and materials for the sale.
As soon as the relevant conclusions and proposals of the consultants are received, the agency will officially announce the launch of the asset sale process.
Earlier, it was noted that UzAuto Motors produces cars under the Chevrolet brand and is technologically dependent on GM licenses and components. For this reason, it was speculated that the potential buyer could be one of the organizations working together with the American company.